“We’ve completed the list of companies Romania will sell its majority stakes in,” IMF mission chief Jeffrey Franks said.
He said the list includes chemical company Oltchim SA (OLT.RO), mining company Cuprumin, Electrica’s units Electrica Serv, Electrica Furnizare and Electrica Distributie, electricity supplier Elcen, freight rail transporter CFR Marfa and the two energy holdings, Oltenia and Hunedoara.
Electrica runs six power supply and distributions units in Romania, along Electrica Serv repairs company, and has its shares in the hands of the Economy Ministry.
Under a EUR3.5 billion loan agreement with the IMF, the Romanian authorities pledged to sell minority stakes in several key energy and oil companies and to reorganize large state enterprises, including by appointing private managers in a bid to turn the companies profitable.